"Asia is re-taking its place on the world stage" in this century, which will require fundamental changes in the global macro-economy and global political relationships, according to HSBC Bank Chairman Stephen Green.
Discussing his new book Good Value: Reflections on Money, Morality and an Uncertain World with Asia Society President Vishakha Desai at the Asia Society's New York Center, Green declared, "The whole center of gravity of the world is shifting from West to East."
Vishakha N. Desai
Vishakha Desai is president and CEO of Asia Society, a leading global organization committed to strengthening partnerships among the people, leaders, and institutions of Asia and the US. Desai sets the direction for the society’s diverse sets of programs, ranging from major US–Asia policy initiatives and national educational partnerships for global learning to groundbreaking art exhibitions and innovative Asian American performances. She has an international reputation for introducing contemporary Asian art in the US through critically acclaimed exhibitions and scholarly catalogues. Under her leadership, Asia Society has expanded the scope and scale of its activities, including opening new offices in India and Korea, the inauguration of a new center on US-China relations, and the development of new initiatives focusing on the environment, on Asian women leaders, and on partnerships among the next generation of exceptional leaders in Asia and the US.
Stephen Green is Chairman of HSBC. He is a career banker, having joined The Hongkong and Shanghai Banking Corporation Limited in 1982 with responsibility for corporate planning activities. He was Group Treasurer, with responsibility for HSBC's treasury and capital markets businesses globally from 1992 to 1998, and executive Director, Corporate, Investment Banking and Markets, from 1998 to 2003, when he was appointed Group Chief Executive. He has worked in Hong Kong, New York, the Middle East and London and has extensive international experience and knowledge of the HSBC Group.
Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation technologies and services, mass migration and the movement of peoples, a level of economic activity that has outgrown national markets through industrial combinations and commercial groupings that cross national frontiers, and international agreements that reduce the cost of doing business in foreign countries. Globalization offers huge potential profits to companies and nations but has been complicated by widely differing expectations, standards of living, cultures and values, and legal systems as well as unexpected global cause-and-effect linkages. See alsofree trade.
I think he misses the point of free markets when he says, "You can not run such a complex system without government involvement." Well the same thing used to be said about governments themselves.
"A complex system such as government can not be run by the populace, but must be handled by a royal class ordained by god", was the sense of it. It wasn't until pirate communities in the Americas popped up that John Locke and others suspected that a government could be formed by a free people, for their own benefit and by their own agreement.
What if the markets were not a machine that needs to be "run"? What if they were garden's? What if they were webs of individuals expressing and seeking their intensely personal values? Then what affect would the governments bulldozer commandment's have on the economy?